Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.93%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.42%
steady accumulation
Rally response
-0.99%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SCHXSchwab U.S. Large-Cap ET | $1.01B | 20.8% | — | 10.5 yr |
| VCRBVanguard Core Bond ETF | $854M | 17.6% | — | 2.3 yr |
| VEAVanguard FTSE Developed | $554M | 11.4% | — | 10.5 yr |
| DFVXDimensional - US Large C | $357M | 7.4% | — | 2.5 yr |
| — | $262M | 5.4% | — | 0.8 yr |
| DFEMDimensional - Emerging M | $133M | 2.7% | — | 2.5 yr |
| AAPLApple Inc. | $98M | 2.0% | +14.7% | 10.5 yr |
| SCHBSchwab U.S. Broad Market | $89M | 1.8% | — | 10.5 yr |
| VOOVanguard S&P 500 ETF | $54M | 1.1% | — | 10.5 yr |
| OMFLInvesco Russell 1000 Dyn | $50M | 1.0% | — | 6.0 yr |
| NVDANVIDIA Corporation | $50M | 1.0% | +60.9% | 9.5 yr |
| DFCFDimensional - Core Fixed | $42M | 0.9% | — | 3.3 yr |
| MSFTMicrosoft Corporation | $38M | 0.8% | -0.6% | 10.5 yr |
| VTIVanguard Total Stock Mar | $33M | 0.7% | — | 10.5 yr |
| JPMJPMorgan Chase & Co. | $33M | 0.7% | +21.8% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management74.2%-1.1pp$3.61B
Unknown5.5%+5.2pp$266M
Semiconductors2.1%+0.9pp$103M
Consumer Electronics2.0%-0.2pp$99M
Internet Content & Information1.3%+0.4pp$63M
Drug Manufacturers - General1.1%-0.3pp$52M
Asset Management - Income1.1%-0.6pp$52M
Software - Infrastructure1.0%-0.2pp$51M
Banks - Diversified0.9%-0.3pp$43M
Aerospace & Defense0.6%-0.1pp$28M
Country
US93.7%-5.1pp
Unknown5.5%+5.2pp
IE0.2%-0.1pp
CA0.1%+0.0pp
GB0.1%-0.0pp
TW0.1%+0.0pp
NL0.1%+0.0pp
SG0.1%
Top 5: 62.5% · Top 10: 71.2% · Top 25: 79.9%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $22M | +0.01B | 60.9% |
| AAPL | $75M | +0.01B | 14.7% |
| GOOG | $9M | +0.01B | 84.3% |
| JPM | $31M | +0.01B | 21.8% |
| LLY | $14M | +0.00B | 12.2% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $33M | -0.00B | -0.6% |
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$3M |
| MSFT Microsoft Corporation | +$1M |
| AZN AstraZeneca PLCnew | +$1M |
| ASTS AST SpaceMobile, Inc. | +$1M |
| AVGO Broadcom Inc. | +$1M |
| SPY State Street SPDR S&P 500 ETF | +$0M |
| TSLA Tesla, Inc. | +$0M |
| IBM International Business Machine | +$5M |
| MU Micron Technology, Inc. | +$0M |
| LLY Eli Lilly and Company | +$16M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.86B | 636 | +18.33% | +17.59% | +0.74% | +0.65B |
| 2025-12-31 | $4.32B | 624 | +17.16% | +17.72% | -0.56% | +0.11B |
| 2025-09-30 | $4.07B | 736 | +15.27% | +17.52% | -2.25% | +0.08B |
| 2025-06-30 | $3.67B | 585 | +14.11% | +14.94% | -0.83% | +0.01B |
| 2025-03-31 | $3.39B | 588 | +7.39% | +8.30% | -0.91% | +0.21B |
| 2024-12-31 | $3.29B | 573 | +19.88% | +24.89% | -5.00% | -0.03B |
| 2024-09-30 | $3.26B | 578 | +31.46% | +36.04% | -4.58% | +0.20B |
| 2024-06-30 | $2.84B | 562 | +18.30% | +24.49% | -6.19% | -0.02B |
| 2024-03-31 | $2.82B | 597 | +23.49% | +29.62% | -6.13% | +0.04B |
| 2023-12-31 | $2.58B | 561 | +19.45% | +26.18% | -6.73% | +0.05B |
| 2023-09-30 | $2.27B | 557 | +14.99% | +21.57% | -6.58% | -0.02B |
| 2023-06-30 | $2.36B | 576 | +12.95% | +19.42% | -6.48% | -0.08B |
| 2023-03-31 | $2.31B | 888 | -6.81% | -7.82% | +1.00% | -1.54B |
| 2022-12-31 | $3.70B | 707 | -14.64% | -18.17% | +3.53% | +2.10B |
| 2022-09-30 | $1.48B | 517 | -11.76% | -15.51% | +3.75% | +0.19B |
| 2022-06-30 | $1.36B | 464 | -6.82% | -10.62% | +3.80% | -0.24B |